Saint-Gobain and Hyundai Heavy Industries (HHI) have formed a 50-50 joint venture to manufacture CIGS thin-film solar modules in Korea.
The venture is to be called Hyundai Avancis.
The Korean manufacturing facility will be identical in design to an Avancis plant currently under construction in Germany by Saint Gobain.
Both plants will be capable of producing an annual volume of 100 MW of CIGS (Copper – Indium – Gallium – Selenide) modules annually for rooftop and ground-mounted installations., designed for roofs and solar fields.
The Korean plant is expected to be operational in 2Q12. Its modules will be marketed independently by Avancis and HHI.
Saint-Gobain is already active in Korea where it produces flat glass for automotive and building sectors.
"By expanding into the high-efficiency CIGS PV market, under a joint-venture with Saint-Gobain, HHI is on track with its plan to become a global supplier in the renewable energy sector via innovation and diversification," says Keh-Sik Min, Chairman of Hyundai Heavy Industries.
HHI’s recent diversification efforts include solar development in Arizona and California, geothermal and electric vehicles with Raser Technologies (NYSE: RZ), and wind turbines in China.
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